Financial Accounting Foundation Names Myra R. Drucker and John Veihmeyer to Board of Trustees
Norwalk, CT, January 15, 2015—The Financial Accounting
Foundation (FAF) today announced that it has appointed Myra R. Drucker
and John Veihmeyer to the FAF Board of Trustees, effective today.
The FAF is the independent, private-sector organization responsible for
the oversight and support of the Financial Accounting Standards Board
(FASB) and the Governmental Accounting Standards Board (GASB).
“The Board of Trustees is pleased to welcome Myra and John as its newest
members,” said FAF Chairman Jeffrey J. Diermeier. “Their diverse
backgrounds and fresh perspectives will add significant value to the
Trustees as we work to support the FASB and the GASB in improving
financial accounting and reporting standards, while educating
stakeholders on how to understand and implement those standards.”
Ms. Drucker currently serves as an independent director and chairs the
Risk and Audit Committee of Grantham, Mayo, Van Otterloo & Co. LLC, a
privately-held global investment management firm. She also serves as
chair of the board of TrustedPeer, Inc., an online business consulting
network, and is a frequent speaker and advisor on governance issues.
Mr. Veihmeyer is Global Chairman of KPMG and Chairman and CEO of KPMG in
the U.S. He has more than 35 years of experience advising many of the
world’s leading companies on financial reporting, audit quality, risk,
governance, educational issues, ethical leadership, and diversity and
inclusion.
The terms of Ms. Drucker and Mr. Veihmeyer on the Board of Trustees
extend to December 31, 2019. They replace Luis M. Viceira and Edward E.
Nusbaum, whose terms ended on January 14, 2015.
The Trustees also announced that Ann Marie Petach, FAF Trustee,
Secretary, and Treasurer, was reappointed to a second term that ends on
December 31, 2017. Ms. Petach serves on the board of BlackRock
Institutional Trust Company. The Trustees also accepted the resignation
of Teri L. List-Stoll, executive vice president and chief financial
officer of Kraft Foods, effective December 31, 2014. The Trustees expect
to fill Ms. List-Stoll’s position during 2015.
“We at the FAF are very grateful to Luis, Ed, and Teri for their years
of dedicated service and their commitment to providing useful
information to investors and users of financial reports,” said FAF
President and Chief Executive Officer Teresa S. Polley. “We are thankful
for their contributions and wish them the best in their future
endeavors.”
In addition to her role at Grantham, Mayo, Van Otterloo & Co., Ms.
Drucker is a member of the investment committees of the Kresge
Foundation and the Nathan Cummings Foundation, and an advisory member of
the Boeing Company Employee Benefits Investment Committee.
During her career, Ms. Drucker served as chair of the New York Stock
Exchange Pension Managers Advisory Committee, chair of the board of
Commonfund, and vice chair of the board of Sarah Lawrence College. She
also served as a managing director of General Motors Asset Management
and chief investment officer of General Motors Trust Bank. Previously,
she served as chief investment officer of Xerox Corporation and led
pension investments for International Paper Company.
Ms. Drucker holds a bachelor’s degree in literature and psychology from Sarah Lawrence College.
Before becoming its Chairman, Mr. Veihmeyer held numerous leadership
roles at KPMG, including Deputy U.S. Chairman; managing partner of
KPMG’s Washington, D.C. operations; and Global Head of Risk Management
and Regulatory.
Mr. Veihmeyer is a member of the board of Catalyst, whose mission is to
expand opportunities for women in business. He serves as co-chair of
CEOs Against Cancer in greater New York and is a board member of the
Committee Encouraging Corporate Philanthropy (CECP). Previously, he
served as a member of the Securities and Exchange Commission’s Advisory
Committee on Smaller Public Companies.
He holds a bachelor’s degree in accounting from the University of Notre
Dame Mendoza College of Business and currently serves on its Business
Advisory Council.
About the Financial Accounting Foundation
The FAF is responsible for the oversight, administration, and finances
of both the Financial Accounting Standards Board (FASB) and its
counterpart for state and local government, the Governmental Accounting
Standards Board (GASB). The Foundation is also responsible for
selecting the members of both Boards and their respective Advisory
Councils.